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Jul 20, 2022 - Jan 19, 2023

Techno Electric & Engineering Company Limited Buyback (Techno Electric & Engineering Company Buyback) Detail

Techno Electric & Engineering Company Limited (TEECL) provides Engineering, Procurement and Construction (EPC) services to core sector industries in India. TEECL is one of India's most important power-infrastructure companies. Incorporated in 1963, Techno Electric & Engineering Company is headquartered in Kolkata and operations are spread across India and abroad.

The company is engaged in electricity generation, transmission and distribution. TEECL is also an independent renewable energy producer with 129.9 MW wind energy capacity.

Techno Electric & Engineering Company Buyback Detail

Issue PeriodJul 20, 2022 - Jan 19, 2023
Security NameTechno Electric & Engineering Company Limited
Issue TypeOpen Market Through Stock Exchange
Issue Size (Amount)₹130.00 Crores
Buyback Price₹325 per share
Face Value₹2 per share
Listing AtBSE, NSE

Company Financials

Techno Electric & Engineering Company Limited Financial Information (Restated)
Period EndedTotal RevenueProfit After TaxNet WorthReserves and Surplus
31-Mar-20922.68179.11480.251458.25
31-Mar-21956.08181.781596.011574.01
31-Mar-221219.15258.441814.681792.68
Amount in ₹ Crore

Stock price at BSE (in preceding 3 months)

Month High Price Low Price Average Price
Jun-2022 294 231 275.34
May-2022 314.95 251.5 284.35
Apr-2022 302 248.9 278.98

Stock price at NSE (in preceding 3 months)

Month High Price Low Price Average Price
Jun-2022 294.85 231.2 275.86
May-2022 314.9 250.85 284.63
Apr-2022 302 248.55 278.98

Necessity of the Issue

The buyback is being undertaken for the following reason:

  1. The Buyback will help the Company to distribute surplus cash to its shareholders holding equity shares.
  2. The Buyback would help in improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders' value.
  3. The Buyback would help in optimizing the capital structure.

Techno Electric & Engineering Company Buyback Documents

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Company Contact Information

Techno Electric & Engineering Company Limited
1B, Park Plaza,
South Block, 71, Park Street,
Kolkata-700016

Phone: +91 33 4051 3000
Email: desk.investors@techno.co.in
Website: http://www.techno.co.in/

Techno Electric & Engineering Company Buyback Registrar

  1. Niche Technologies Pvt. Ltd
       D-511, Bagree Market,
       71, B R B Basu Road,
       Kolkata - 700 001, West Bengal, India

    Phone: 2235-7270/ 7271
    Email: nichetechpl@nichetechpl.com
    Website: http://www.nichetechpl.com

Techno Electric & Engineering Company Buyback Manager

Lead Manager(s)

Registered Broker

  1. Trans Scan Securities Private Limited
    Email: transdp@hotmail.com

Techno Electric & Engineering Company Buyback FAQs

The Techno Electric & Engineering Company Buyback opens on Jul 20, 2022, and closes on Jan 19, 2023.

The Techno Electric & Engineering Company Buyback is a Open Market Through Stock Exchange.

Techno Electric & Engineering Company Buyback Schedule

Buyback Opening DateJul 20, 2022
Buyback Closing DateJan 19, 2023
Last date for acceptance of sharesUpon relevant pay-out by the Stock exchange

The Techno Electric & Engineering Company Buyback is being offered at Rs ₹325 per share per equity share.

There is no ratio applicable in case of open market offer through stock exchange mechanism.

There is no concept of record date in case of open market through stock exchange mechanism.

The Techno Electric & Engineering Company Buyback has announced a buyback for an aggregate amount of not more than Rs. ₹130.00 Crores with pricing of Rs.₹325 per share.

The buyback is being undertaken for the following reason:

  1. The Buyback will help the Company to distribute surplus cash to its shareholders holding equity shares.
  2. The Buyback would help in improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders' value.
  3. The Buyback would help in optimizing the capital structure.

Any equity shareholder holding the shares in Demat form can participate in the buyback offer through their stockbroker. The physical shareholder can participate only once the shares get converted into a Dematerialized form.

The shareholder needs to inform their broker on the details of the Equity shares they wish to sell. The broker will place a sell order whenever the company places a buy order for the buyback. The trade would get executed at the offer price or lesser only when the price offered by the shareholder matches with the buy order placed by the company.

The Techno Electric & Engineering Company Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.


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